The company has filed for Chapter 11 bankruptcy protection in the U.S. and will soon file for creditor protection in Canada.
The company has already discontinued its rewards program, shut down its online store, and all purchases from Tuesday onwards are final sale.
Watch: Payless to shut down all stores in Canada and the U.S. Story continues below.
Liquidation sales are expected to go into May, and have already begun in the U.S. The company expects to start doing the same in Canada soon.
But those who have gift cards or credit notes hanging out in their wallets shouldn't wait until the last minute to use them.
Here are some dates you might need to know:
All online sales are final and no coupons will be accepted online. The Payless Rewards program is discontinued.
Effective Feb. 19, all store sales are final. Stores won't issue merchandise credits, accept coupons, or honour price adjustments. They also won't accept cheques as a form of payment.
This is the last day to return anything purchased 60 days before Feb. 19.
This is the last day to use any valid merchandise credit or gift cards.